Since you initially had some concerns regarding managing the property yourselves, how did you get to the LLC? I like the simplicity of it, but I just can't seem to understand it in light of the self-dealing prohibitions. Also, what kind of tax paperwork do you have to do for the LLC and for the LLC to give to the IRA?

Also, how did you decide on your custodian? About what did the real estate purchase transaction cost in custiodian fees? Part of the reason I'm strongly considering Pensco is that there are no charges for purchasing real estate. While I want to have some rental property, I'm also wanting to refurbish and sell (as opposed to "flip", which I associate with people who buy cheap, slop a bunch of off-white, semi-gloss paint all over everything, and call it "newly remodeled") several times/year.

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.

Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.